Digital bank Monzo will begin randomly selecting ten customers each month to receive their salaries twice over in a scheme it describes as a first for UK banking.
The initiative, called Double Payday, starts on December 8, 2025.
Winners will see their take-home pay matched by the bank without any tax implications.
For instance, someone earning £2,500 monthly would receive an additional £2,500 from Monzo.
The timing coincides with the festive period when many workers face extended waits until their January wages arrive.
The monthly prize draws will continue throughout the year.
To qualify for the monthly draw, customers must be UK residents over 18 years old who receive their wages through BACS payments directly into their Monzo account. Both personal and joint accounts are eligible.
Monzo bank has launched double pay day scheme
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PRESS ASSOCIATIONThe scheme accepts weekly or monthly salaries ranging from £300 to £20,000.
However, there’s a maximum payout of £10,000 per winner, meaning those with salaries exceeding this amount would still only receive £10,000 as their additional payment.
Customers need to have received their salary into their Monzo account by the final day of each calendar month to enter the following month’s draw. The doubling applies to take-home pay rather than gross earnings.
Monzo will pick 10 lucky customers each month
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GETTY / MONZORichard Cadman, Senior Product Director at Monzo, said: “We know how much our customers love getting paid early with Monzo, and we’re doing payday the Monzo way, taking that feeling to the next level.
“With Double Payday, we’re giving customers the chance to literally double their salary every month just in time for the festive season. It’s yet another industry first – that you can only do with Monzo.”
The bank positions this new feature as an enhancement to what it calls “that payday feeling”, promising to “double the thrill” for lucky winners selected each month.
The Double Payday feature complements Monzo’s existing salary management tools. These include Get Paid Early, which grants access to wages at 4pm the day before they’re due, and Salary Sorter, a tool that automatically distributes income across various accounts and pots for spending, bills and savings.
Subscribers to Monzo’s Extra, Perks and Max tiers also benefit from Billsback, through which the bank reimburses more than 1,000 bills monthly, up to £150 per payment.
The bank emphasises that deposits remain protected under the Financial Services Compensation Scheme, maintaining standard FSCS coverage for eligible funds.